Cairo – Mubasher: El Kahera Housing reported lower net profit in the second quarter of the fiscal year 2016, according to the consolidated financial results.

Q2 net profit rose 76.4% year-over-year to EGP 15.93 million ($1.8 million) from EGP 67.41 million ($7.6 million), a bourse filing revealed.

Over the first six months, the company earned EGP 58.11 million, lower 36.6% from EGP 91.6 million for the year-ago period.

The unconsolidated results revealed that H1 net profit declined 72.09% year-on-year to EGP 5.81 million from EGP 20.82 million.

In the first quarter, the company registered EGP 42.124 million consolidated profits.